Schaeffler ranked second most innovative company in Germany

German manufacturer of rolling element bearings Schaeffler has been ranked the country's second most innovative company for the second year in succession according to the DPMA (German Patent and Trademark Office), informed the company in a press statement.

"Innovation is one of the Schaeffler Group's success factors and ensures our economic success in the long term. The basis for continuous innovation is our network of research and development, which identifies new basic technologies in a worldwide network and uses these to generate and realise ideas for new, customer-relevant products," said Peter Gutzmer, Deputy CEO and Chief Technology Officer at Schaeffler AG.

Approximately 6,700 employees at 17 R&D centres develop new products, technologies, processes and methods for solutions that are tailored to the market.

Schaeffler currently has 24,000 active patents and patent registrations.